Business

World Food Prices Dip in October, but Remain Higher Than a Year Ago

Business A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)

World Food Prices Dip in October, but Remain Higher Than a Year Ago

World food prices edged lower in October as weaker import demand contributed to monthly declines in cereal, dairy and meat prices, but were still nearly 6%…

Business Copper at the Aurubis copper smelting and refining plant in Hamburg, Germany. (Reuters)

Copper Falls, Set for Worst Week Since March on AI Rout

Copper dropped on Friday and was set for its biggest weekly drop in London since March, as a rout in technology stocks battered markets. Benchmark three…

Asharq Al Awsat
Business Workers walk at Kalyon Karapinar solar power plant in Karapinar, Konya province, Türkiye, Oct. 14, 2026. (AP)

Emerging Economies Set to Match Advanced Nations’ Renewable Capacity Additions, IEA Says

Emerging ‌and developing economies outside China are expected to add as much new renewable energy capacity as advanced economies for the first time over…

Business Gold bracelets displayed in a shop window on Green Street, east London, UK, April 30, 2024. (AFP)

Gold Drops Over 1% on Higher Oil Prices; US Payrolls Data in Focus

Gold prices slipped on Friday as oil prices rebounded, fanning inflation worries and higher-for-longer interest rate expectations, while investors awaited key…

Business A pumpjack operates near Bakersfield, California, on Oct. 16. (AFP)

Oil Set for Sharp Weekly Drop but Middle East Supply Concerns Provide Floor

Oil prices are set for a sharp weekly drop on expectations of a de-escalation of the Iran war after US President Donald Trump's party suffered election losses,…


Business Saudi trader monitors stocks at the Saudi stock market in Riyadh (Reuters)

Saudi Index Records Highest Close Since August 2022

Saudi Arabia's benchmark Tadawul All Share Index (TASI) closed 0.1%, or 17 points, higher at 12,502 points today, Feb. 18, recording the highest close since…

Mohammed al-Mutairi (Riyadh)
Business Saudi Roads General Authority is achieving rapid milestones to enhance the efficiency of the road network in Saudi Arabia (SPA)

Saudi Initiatives Propel Kingdom to 4th Globally in Road Quality Index

Saudi Arabia continued to advance on the Road Quality Index (RQI) to the level of 5.7, taking the fourth place globally among the G20 countries, according to…

Bandar al-Mosalam (Riyadh)
Business A commercial ship sails from Jeddah Islamic Port. (Saudi Ports Authority)

Saudi MAWANI to Establish New Logistics Zones

The Saudi Ports Authority (MAWANI) aims to achieve the National Transportation and Logistics Strategy (NTLS) goals by consolidating Saudi Arabia's position as…

Ayat Nur (Riyadh)
Business Oman’s real gross domestic product increased by 2% during the third quarter of 2023, attributed to a hike in oil activities. (Getty Images)

Non-Oil Activities Boost Economic Growth in Oman 

Oman’s real gross domestic product increased by 2% during the third quarter of 2023, attributed to a hike in oil activities, which added value by 0.5%, and non…

Business A model of an oil rig with the OPEC logo in the background. (Reuters)

Federal Reserve System Study: OPEC Decisions Ensure Oil Markets’ Stability

A recent study of the Board of Governors of the Federal Reserve System has concluded that OPEC’s credible decisions and research ensure the oil markets’…

Sabri Najeh (Cairo)
Business King Abdullah Financial District. (SPA)

Rothschild & Co Opens New Office in Riyadh

Rothschild & Co announced on Sunday the opening of its new office in Riyadh as part of its strategic expansion into the Kingdom of Saudi Arabia, further…

Asharq Al Awsat (Riyadh)
Business Riyadh will host the third edition of LEAP, the world’s most attended tech event, from March 4 to 7. (SPA)

LEAP Returns to Riyadh in March for its Third Edition

Riyadh will host the third edition of LEAP, the world’s most attended tech event, from March 4 to 7. Held under the theme "Into New Worlds", the event is…

Business CEO of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba, during a tour of the free zones in Suez Governorate (Asharq Al-Awsat)

Egypt: Industrial Product Valued at EGP1.2 Trillion

The Egyptian economy was capable of achieving positive indexes, topped by attaining the industrial product of a total EGP1.2 trillion in 2022/2023, announced…

Asharq Al Awsat (Cairo)
Business Central market in Bangui, Central African Republic. (World Bank)

AfDB: 15 African Countries Posted Output Expansions of More than 5%

A total of 15 African countries have posted output expansions of more than 5% despite the challenging global and regional economic environment, according to…

Asharq Al Awsat (London)
Business Technicians at a site affiliated with the Saudi TAQA company. (TAQA)

Saudi TAQA Aims to Quadruple its Investments Within 3 Years

The Saudi Industrialization and Energy Services Company (TAQA) investments will increase fourfold within three years, starting in 2023, to strengthen the…

Sabry Nageh (Cairo)
Business The launch of the new flight route to AlUla reflects the interest shown in the Saudi governorate with a rich heritage. SPA

Saudi Arabia's AlUla Airport Receives First Direct Royal Jordanian Flight

A Royal Jordanian Airlines (RJ) flight coming from Amman landed at AlUla International Airport (AIA), the first flight on a new twice-weekly direct route RJ…

Asharq Al Awsat (AlUla)
Business Turkish Vice President Cevdet Yilmaz meeting with Saudi Investment Minister Khalid Al-Falih (X)

Saudi-Turkish Business Forum Explores Investment, Tourism Opportunities

Saudi Arabia and Türkiye are looking to strengthen economic, tourism, and investment ties, tapping into available opportunities to enhance collaboration across…

Saeed Abdulrazek (Istanbul)
Business Data showed that US producer prices increased more than expected in January- Reuters Graphics

Gold Set for Second Weekly Loss as Rate cut Expectations Dampen

Gold ticked up on Friday but was on course for a second straight weekly fall after hot inflation data cooled prospects of early rate cuts by the Federal…

Asharq Al Awsat
Business Mohammed Zina, 35, was employed by Goldman Sachs International in its conflicts resolution group in London. - Reuters

Ex-Goldman Sachs UK Analyst Jailed for Insider Dealing after London Trial

A former Goldman Sachs analyst was on Friday jailed for 22 months after he was convicted in a London court of using inside information to buy shares in listed…

Asharq Al Awsat
Business Retail companies in Europe suffer from the high costs of rerouting from the Red Sea. (EBA)

Retailers Demand More Action from the EU to Resolve Red Sea Crisis

European retail industry body Eurocommerce has called on European Union institutions and member states to resolve the Red Sea crisis that has disrupted trade,…

Asharq Al Awsat (Brussels)
Business Actual housing rents in the Kingdom rose by 9.3% in January. (SPA)

Saudi Arabia Maintains Low Inflation Levels Compared to G20 States

The consumer price index in Saudi Arabia, or inflation, reached 1.6 percent during the month of January on an annual basis, compared to the same month in 2023 …

Business Fahmi Zouhair Al-Nouri takes the constitutional oath before President Kais Saied at the Carthage Palace (Reuters)

Tunisian President Appoints New Central Bank Governor

Tunisian President Kais Saied appointed Fahmi Zouhair Al-Nouri as the new governor of the Central Bank on Thursday, replacing Marwan Abbasi. Al…

Asharq Al Awsat (Tunis)
Business The Saudi Ports Authority, Mawani, announced the completion of the Red Sea Gateway Terminal at Jeddah Islamic Port. (SPA)

Mawani Announces Completion of Red Sea Gateway Terminal at Jeddah Islamic Port

The Saudi Ports Authority, Mawani, announced the completion of the Red Sea Gateway Terminal at Jeddah Islamic Port, leading to an increase in its capacity, SPA…

Asharq Al Awsat
Business In the fourth quarter of 2023, oil revenues grew by 28 percent compared to the same period in 2022. (SPA)

Saudi Capital Spending Increases 30% in 2023

The volume of capital spending according to Saudi Arabia’s actual budget for 2023 amounted to about SAR186.5 billion, an increase of 30% from 2022. …

Asharq Al Awsat (Riyadh)
Business The initiative will contribute to attracting innovative minds and opening the way for emerging and small companies. (Asharq Al-Awsat)

Will the ‘Congestion Hackathon’ Initiative Find Traffic Solutions in Riyadh?

With the aim to tackle traffic congestion in Riyadh and other Saudi cities, the Ministry of Interior, through its Public Security division, has unveiled the …

Asharq Al Awsat (Riyadh)
Business  Visitors walk pass the Microsoft Corp. booth at the 2009 International Consumer Electronics Show at the Las Vegas Convention Center January 8, 2009 in Las Vegas, Nevada. - Getty

Microsoft Says it Caught Hackers from China, Russia, and Iran Using its AI Tools

Microsoft announced Wednesday that it had tracked hacking groups affiliated with Russian military intelligence, Iran's Revolutionary Guard, and the Chinese and…

Asharq Al Awsat
Business A view shows people sitting on chairlifts at a ski resort in Bcharre, Lebanon February 10, 2024. REUTERS/Emilie Madi

ATO Seeks to Develop Tourism in Arab World

The Arab Tourism Organization (ATO) has signed a strategic partnership agreement with the International Strategic Management (ISM) company, headquartered in…

Asharq Al Awsat (Jeddah)
Business Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Prime Minister of Saudi Arabia. (SPA)

Saudi Public Prosecution Approves Establishment of Intellectual Property Prosecution

The Public Prosecution chaired by the Attorney General, Sheikh Saud bin Abdullah Al-Mujab, approved on Wednesday the establishment of the Intellectual Property…

Business An oil and gas industry worker walks during operations of a drilling rig at Zhetybay field in Kazakhstan (Reuters)

OPEC Maintains Global Oil Demand Forecasts for 2024

OPEC saw demand growth of 2.25 million bpd, unchanged from last month for 2024, noting that global oil demand will rise by 1.85 million bpd in 2025 to 106.21…

Asharq Al Awsat (Vienna)